GBPUSD - Long = Compound Trade entries - Awesome 24% growth
Updated
Hello all - DuncanForex here with a continuation compound trade
With my first entry hitting TP this morning, I am looking to get more entries now on the next cycle higher
Trades 1, 2 and 3 entered this morning at 1.2070 along with GBPJPY
Trade 1 TP Hit
Trades 2 & 3 Stop loss is now at entry point of 1.2072 - to take into account swaps.
Entries, 4, 5 and 6 are on a buy stop at 1.2095 area
Take Profit targets I have added to this chart to show what I am aiming for overall
Trade number and reward vs risk ratio
1 = 2 to 1
2 = 3 to 1
3 = 4 to 1
4 = 3 to 1
5 = 5 to 1
6 = 7 to 1
Risk profile of 1% per trade
Overall Risk at any one time = 3% as first trade is already TP. trades 2 & 3 are at break even before second 3 trades opened.
Total capital growth if this plays out is
24%
Risking 6% overall of capital with only 3% of it at risk at any single time (3 trades opened with 1% each)
I hope you find it interesting
Head over to my website to join and learn how to do this yourself
Cheers
Duncan
With my first entry hitting TP this morning, I am looking to get more entries now on the next cycle higher
Trades 1, 2 and 3 entered this morning at 1.2070 along with GBPJPY
Trade 1 TP Hit
Trades 2 & 3 Stop loss is now at entry point of 1.2072 - to take into account swaps.
Entries, 4, 5 and 6 are on a buy stop at 1.2095 area
Take Profit targets I have added to this chart to show what I am aiming for overall
Trade number and reward vs risk ratio
1 = 2 to 1
2 = 3 to 1
3 = 4 to 1
4 = 3 to 1
5 = 5 to 1
6 = 7 to 1
Risk profile of 1% per trade
Overall Risk at any one time = 3% as first trade is already TP. trades 2 & 3 are at break even before second 3 trades opened.
Total capital growth if this plays out is
24%
Risking 6% overall of capital with only 3% of it at risk at any single time (3 trades opened with 1% each)
I hope you find it interesting
Head over to my website to join and learn how to do this yourself
Cheers
Duncan
Note
If the buy stop doesn't activate for trades 4, 5 & 6 and trades 2 and 3 are hit at breakeven - it will be just 2% growthTrade active
Take profit hit for Trade Position 4 at TP1 Stop loss for Trades 2, 3, 5 & 6 all moved to 1.2100 area
Currently 5 to 1 achieved (2 to 1 + 3 to 1)
Looking for TP2 to be hit this afternoon - will keep stop loss close for trade entry 2 & 3 to lock in profit before weekend and let 5 & 6 play out into next week
Trade active
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